Apple isn’t the only tech giant with a large pile of cash sitting around.
Samsung’s cash in reserve totals $28.5 billion after debt, AllThingsD reports.
Having grabbed a big chunk of the profitable smartphone business from Apple Inc. and others, Samsung Electronics Co. now faces a new, enviable Apple-like challenge: a mammoth pile of unspent, accumulated cash.
Although Apple’s cash surplus is still five times greater than Samsung’s $28.5 billion, investors and analysts are already probing the South Korean tech juggernaut for clues as to how this money will be used to grow Samsung and the bank accounts of its faithful investors.
For now, Samsung will only tell the Wall Street Journal that the company’s cash will be used to prioritize “investments sustainable for areas like facilities, R&D, and marketing that will help the company solidify or boost competitiveness.”